Can a newbie make investment before learning?

Kristiyana

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Quote from: doomloop on May 17, 2024, 11:39:23 PM

Quote from: |MINER| on May 15, 2024, 01:11:22 PM

Quote from: Plan well on May 08, 2024, 06:41:11 PM

As on my own opinion alot of newbies have fallen in to hand of scammers because of their insufficient knowledge about Bitcoin so therefore it take a high risk to make an investment when you yet to understand the Bitcoin investment to avoid been scammed of your hard earnings
Take your time learn and implement before you inter market or make any investment as a newbie

I will not going to suggest any newbie to invest in crypto before learning because cryptocurrency trading is high risky, you can loss you all fund if you invest with out proper knowledge. Because even then if you want to invest on bitcoin long-term you have know at least the basic about it .

I completely agree with that.

Even if someone knows that Bitcoin is a great investment asset and most people who invest in it for the long-term tend to gain profit from it, it is still important for them to do their research and understand the basics of how things work around it and what steps they are supposed to take before or after investing in it.

Knowledge gives a person more power to conquer things they might not be able to conquer without it, so it's better if our focus stays on gaining as much knowledge as possible before we get into anything, and when we talk about financial markets, it becomes a necessity for us to have a lot of knowledge about the market and the assets in it.

You're absolutely right knowledge is required in all aspects of life, if you don't have knowledge there's no way you're going to carry out your investment plans, because you don't know how the market work's. However is always good to acquire enough knowledge before looking into crypto investment, because in this crypto space enough knowledge is required mostly when it has to do with meme and altcoins investment, you need to understand how the market works before looking out to invest in this coins.

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Quote from: |MINER| on May 15, 2024, 01:11:22 PM

Quote from: Plan well on May 08, 2024, 06:41:11 PM

As on my own opinion alot of newbies have fallen in to hand of scammers because of their insufficient knowledge about Bitcoin so therefore it take a high risk to make an investment when you yet to understand the Bitcoin investment to avoid been scammed of your hard earnings
Take your time learn and implement before you inter market or make any investment as a newbie

I will not going to suggest any newbie to invest in crypto before learning because cryptocurrency trading is high risky, you can loss you all fund if you invest with out proper knowledge. Because even then if you want to invest on bitcoin long-term you have know at least the basic about it .

I completely agree with that.

Even if someone knows that Bitcoin is a great investment asset and most people who invest in it for the long-term tend to gain profit from it, it is still important for them to do their research and understand the basics of how things work around it and what steps they are supposed to take before or after investing in it.

Knowledge gives a person more power to conquer things they might not be able to conquer without it, so it's better if our focus stays on gaining as much knowledge as possible before we get into anything, and when we talk about financial markets, it becomes a necessity for us to have a lot of knowledge about the market and the assets in it.

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Quote from: Abu-Naim on May 17, 2024, 05:26:21 PM

Quote from: Plan well on May 08, 2024, 06:41:11 PM

Take your time learn and implement before you inter market or make any investment as a newbie

Yes, that’s very correct, but you as a newbie, can you stay to learn while other people are using shitcoins to make money?
Money is basically the main reason why newbies invest in cryptocurrency, they are mostly eager to make money that’s why they are not considering learning first. The normal procedure is learn first before investing in Bitcoin or any coin for your choice.

But we all know not all newbies follow this but resort into taking short cuts to gain quick earnings. The reason why a lot of newbies end up losing and quitting because their capital were used up already before they have gained substantial learning in bitcoin. Hopefully, this could serve a lesson to everyone that it’s not possible to chase quick profits when you don’t even know the nature of your investment first.

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There are many views and advices about this with usually we need to understand things before having any investment because this is best for the investment and investor with investing in bitcoin is never been risky as we all know but using any tool or trick for having quick profit can create problems for the user so just try to avoid things like these and first try to learn all then having investment in these things are much better and profitable for all with just keep one thing in mind if you are going to do anything try to have all knowledge and updates about this because if you will be lost your money it's not easy to recover this which can ruin your life as well.

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Quote from: Plan well on May 08, 2024, 06:41:11 PM

Take your time learn and implement before you inter market or make any investment as a newbie

Yes, that’s very correct, but you as a newbie, can you stay to learn while other people are using shitcoins to make money?
Money is basically the main reason why newbies invest in cryptocurrency, they are mostly eager to make money that’s why they are not considering learning first. The normal procedure is learn first before investing in Bitcoin or any coin for your choice.

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Quote from: sunsilk on May 15, 2024, 04:26:34 PM

Quote from: |MINER| on May 15, 2024, 01:11:22 PM

I will not going to suggest any newbie to invest in crypto before learning because cryptocurrency trading is high risky, you can loss you all fund if you invest with out proper knowledge.

While I am going to suggest them to invest in Bitcoin only if they want to start. But it doesn't mean that they need not to invest to learning first. Every investor should be wise and that's what I am going to tell them to do. They need to DYOR.

Even it is with Bitcoin, they need to understand how it goes and how the market works for everyone. If they proceed to trading without that much understanding and idea of how the market works, they're just burning their money easily.

Quote from: |MINER| on May 15, 2024, 01:11:22 PM

Because even then if you want to invest on bitcoin long-term you have know at least the basic about it .

I agree and I hope they understand it very well.

Investing in bitcoin is not actually risky. It only gets risky if you see it as a get rich quick tool. However, of course basic learning is vital so you can avoid too much losses while starting, and I think that’s not hard at all. Just merely reading and understanding what you have read can also already provide you valuable insights. Just never stop learning and finding out the reasons why you lose consistently, that way you will master your investment in due time.

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Quote from: Plan well on May 08, 2024, 06:41:11 PM

As on my own opinion alot of newbies have fallen in to hand of scammers because of their insufficient knowledge about Bitcoin so therefore it take a high risk to make an investment when you yet to understand the Bitcoin investment to avoid been scammed of your hard earnings
Take your time learn and implement before you inter market or make any investment as a newbie

Let's not make the line between investment and knowledge too extensive. One can invest with out proper knowledge of what he or she is investing on and one can still have a proper knowledge yet not invest. It's vise visa.

If you have the capital why not invest and long the line of your investment you are learning already. Some people invested in bitcoin with out a proper knowledge all the knowledge was how to buy bitcoin in an exchange along the line of having bitcoin somewhere they got interested in knowing how to maximise the opportunity they had which is the learning we are talking about hence the knowledge is in the process of purchasing.

Some benefits of knowledge about bitcoin or having a proper knowledge of it is just be sharing your knowledge or teaching people about it for payment, just as we that participate in a campaign we are examples of people who benefit from having bitcoin knowledge before investing in it though I'm not generalizing this statements because some invested before finding the forum.

Victorik

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Those who refuse to learn before investing will definitely end up learning the hard way. It is safe to learn first so you can be able to make inform decisions.
I remember my very investment in BTC, because I refused learning before investing, I ended up running into trouble that cost me my money.

Filippo Spina

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You're asking a really good question.

Answer is hard no in my opinion, because currency is so vital to your lifestyle and success. If you're uneducated about where you put your money, it's like putting it in the trash. Would you put currency in the trash? Heck, no! Grin

Even with bitcoin, an investment more secure than real-estate, because an uneducated bitcoin investor is just gunna end up wasting those coins with dumb-ass decisions.

But then again, a newbie just wants to survive and thrive. A newbie just wants to win. If you invest without learning, it's natural bro. You just want something and that's ok too!

Good luck, ok?

<3

Kelvinid

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-Can a newbie make investment before learning?

Investing in Bitcoin is not as easy as we think, therefore, it is not, newbies must know their priorities first before making a move so they will never find it regretful, and then no way to blame the market for their stupidity and rush. Learning first is hereby encouraged not just to have an idea of what is this all about but for the reason that investing without knowledge is just like we are throwing our money -- a waste of time either.

We don't need to spend a lot of time doing this but at least, we have an idea of how these things work as we can't invest like gambling. But we did this for the goal of success, not failure.

Essential10

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There are many who are attracted by various news, friends or close relatives who express their interest to invest, many new investors invest. Of course beginners should do research and judgment analysis before investing as there are thousands of coins in the market to invest in. However, there are many new investors who understand Bitcoin and invest in cheap coins in the hope of getting a higher price. The bottom line is if you want to invest then definitely invest in all those coins, analyze all the coins, give time to understand the movement, understand where the price is going or where it may go. But I think if someone now invests before understanding bitcoin ethereum coins then I don't think he will be at risk, as it is a long term investment here investors will definitely get time to learn about the coins.

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Quote from: Fara Chan on May 17, 2024, 12:18:54 AM

Quote from: Plan well on May 08, 2024, 06:41:11 PM

As on my own opinion alot of newbies have fallen in to hand of scammers because of their insufficient knowledge about Bitcoin so therefore it take a high risk to make an investment when you yet to understand the Bitcoin investment to avoid been scammed of your hard earnings
Take your time learn and implement before you inter market or make any investment as a newbie

If the goal of the beginners was only to invest in Bitcoin, I think there would not be so much time that the beginners would need to spend to increase their knowledge. Unless these beginners are people who really don't know about Bitcoin or how to buy Bitcoin in the market, it is clear that they still need more time to learn. But if it's just for investment, they only need a few things that they have to learn and these include how to buy Bitcoin on a well-known exchange and how to store it in a wallet that is considered safe by many people. Apart from that, they only need knowledge about Bitcoin and knowledge about how to see better market moments in order to increase their enthusiasm in investing in Bitcoin.

I totally agree with you on that, as a newbie is good to start with bitcoin investment because in bitcoin investment There are just few things you need to know, secondly the reason why newbies need to start up with bitcoin investment is because the risk that is involve in bitcoin investment is low compared to the risk in other coins like meme. and if you're investing in memecoin enough knowledge is required these are knowing the right time to buy/sell your coin, and also how you can go about those risk that is involved when investing in memecoin, and as well understanding the market very well.

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Quote from: Plan well on May 08, 2024, 06:41:11 PM

As on my own opinion alot of newbies have fallen in to hand of scammers because of their insufficient knowledge about Bitcoin so therefore it take a high risk to make an investment when you yet to understand the Bitcoin investment to avoid been scammed of your hard earnings
Take your time learn and implement before you inter market or make any investment as a newbie

Nobody gets scammed if nobody are able to believe in huge rewards for doing nothing. Sadly, because of greediness some people take the bait and fall into this kind of trap. Even if you had knowledge about cryptocurrency, it doesn't mean you are safe, we never know their mind because many intelligent people fall into their hands as well due to promising offers.
But at least having some ideas about how this works, will save others who are not greedy.
It is not just like we need it but it is a must if we want to grow up and reach our goal. As we take responsibility for our investment, therefore, it is our well to do it otherwise, never consider ourselves as an investor.

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Quote from: Plan well on May 08, 2024, 06:41:11 PM

As on my own opinion alot of newbies have fallen in to hand of scammers because of their insufficient knowledge about Bitcoin so therefore it take a high risk to make an investment when you yet to understand the Bitcoin investment to avoid been scammed of your hard earnings
Take your time learn and implement before you inter market or make any investment as a newbie

If the goal of the beginners was only to invest in Bitcoin, I think there would not be so much time that the beginners would need to spend to increase their knowledge. Unless these beginners are people who really don't know about Bitcoin or how to buy Bitcoin in the market, it is clear that they still need more time to learn. But if it's just for investment, they only need a few things that they have to learn and these include how to buy Bitcoin on a well-known exchange and how to store it in a wallet that is considered safe by many people. Apart from that, they only need knowledge about Bitcoin and knowledge about how to see better market moments in order to increase their enthusiasm in investing in Bitcoin.

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If that is what you are discussing and asking, it will be very useful for other beginners, the world of investment has very interesting components to learn and don't rush into it. Bad things happen to weak people. Weakness here is not physical but knowledge of what to do and the risk here is that if we make a mistake we will lose our money.

Now. Anticipating this, it's a good idea to learn the basics first and even if you really want to invest and trade, it's best to use a small amount of initial capital where the risk of failure is not too much and you'll quickly find the gap. Another option that is best is to invest long term if you are ready.

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Quote from: Plan well on May 08, 2024, 06:41:11 PM

As on my own opinion alot of newbies have fallen in to hand of scammers because of their insufficient knowledge about Bitcoin so therefore it take a high risk to make an investment when you yet to understand the Bitcoin investment to avoid been scammed of your hard earnings
Take your time learn and implement before you inter market or make any investment as a newbie

learning while walking is good but your journey will be very difficult, the point is that you have to be willing to work harder and extra to make your goals achieved, if you want to learn about bitcoin or investing in crypto then you can look for it on YouTube or articles that touch on that.

I was also a beginner at the beginning, but with consistent determination, I managed to at least understand the basics of Bitcoin and its price history, it was quite an exciting journey starting knowledge in crypto from zero.

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Quote from: Plan well on May 08, 2024, 06:41:11 PM

As on my own opinion alot of newbies have fallen in to hand of scammers because of their insufficient knowledge about Bitcoin so therefore it take a high risk to make an investment when you yet to understand the Bitcoin investment to avoid been scammed of your hard earnings
Take your time learn and implement before you inter market or make any investment as a newbie

This is very important, you must first understand what you are actually investing in, you must understand the ins and outs and also the price history of the asset. i am still continuing to find out about Bitcoin and its development possibilities, this makes me feel comfortable with the money i put down to buy Bitcoin, just basic knowledge is actually really good, it's just that many people are lazy to do the research.

Nothingtodo

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Quote from: Plan well on May 08, 2024, 06:41:11 PM

As on my own opinion alot of newbies have fallen in to hand of scammers because of their insufficient knowledge about Bitcoin so therefore it take a high risk to make an investment when you yet to understand the Bitcoin investment to avoid been scammed of your hard earnings
Take your time learn and implement before you inter market or make any investment as a newbie

Experience is an important factor for any person, an experienced person can be more successful than an inexperienced person at any job. An experienced investor and trader can always pay attention to the issues of loss, but an inexperienced investor and trader cannot pay attention to the issues of loss and if he does not know the issues that must be paid attention to in doing that trading, then he will definitely face losses. So, a new trader must learn the basics of trading before trading, then if he is experienced, he can trade.

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Quote from: Plan well on May 08, 2024, 06:41:11 PM

As on my own opinion alot of newbies have fallen in to hand of scammers because of their insufficient knowledge about Bitcoin so therefore it take a high risk to make an investment when you yet to understand the Bitcoin investment to avoid been scammed of your hard earnings

Before you invest, make sure you accumulate more knowledge first, if you invest before you seek for knowledge, then you will end up falling in the wrong hands and you will be scammed. Bitcoin investment is not what you are suppose to rush into, always take your time to learn about bitcoin investment, if you are in rush to invest, then you might be losing your money at the end. Cryptocurrency is not what you should rush into, having the appropriate knowledge before investing, is just the best and after investing, you have to keep on learning to keep yourself updated.

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Quote from: Plan well on May 08, 2024, 06:41:11 PM

As on my own opinion alot of newbies have fallen in to hand of scammers because of their insufficient knowledge about Bitcoin so therefore it take a high risk to make an investment when you yet to understand the Bitcoin investment to avoid been scammed of your hard earnings
Take your time learn and implement before you inter market or make any investment as a newbie

as a newbie I think that is good to learn first before you make your investment, because investment is a risk and you have to know the kind of risk you will take before you invest, sometimes we do allow people to make use of intelligence by deceiving us, as someone who is amateur in any investment of different kind, have to make a research knowing that its finance we do use for investment and we have to know the concept very well before we invest on it.

Sometimes we don't make research and also observe people who is already in existence in that investment aspect we want to establish, investment is something you have to take your time to know the foundation of it, because if you fail to know the rules and regulations of it you will not accelerate well.

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Quote from: Cryptomultiplier on May 08, 2024, 06:51:48 PM

You clearly are a very newbie indeed for coming up with such a post that sounds rhetoric or should I say you just need the attention.
Why should someone without a proper investment knowledge, invest their hard earned money and hope to make profit, before they then learn about what they have invested in and hope to invest more, make more profit and become a professional all of a sudden?
It makes no absolute sense, infact how does the learner acquire the investment and keep it safe before they learn how to?

You attack him like the question he asked is absolutely stupid. I agree that his post could have been placed better, but the question he asked is a legit question. A lot of people invest in what they don't understand and it's not just in bitcoin. People invest in different things when they don't fully understand it, foreign exchange, stock etc and this is what makes people fall into Ponzi schemes. If they took their time to understand what they were getting into before going into it, they would have realised that it's a scam.

The thing is, Ponzi schemes won't let you understand it because that way they'll be caught, so they'll preach to you that the more you wait the more you lose an opportunity, bitcoin isn't so. There's no point to rush. Bitcoin is not going anywhere. Don't be pressured to start investing. Don't make your decisions based on FOMO. This should apply to every other investment. Have at least the basic understanding of of whatever you want to invest in.

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Quote from: Onyeeze on May 15, 2024, 04:46:51 PM

Quote from: Plan well on May 08, 2024, 06:41:11 PM

As on my own opinion alot of newbies have fallen in to hand of scammers because of their insufficient knowledge about Bitcoin so therefore it take a high risk to make an investment when you yet to understand the Bitcoin investment to avoid been scammed of your hard earnings
Take your time learn and implement before you inter market or make any investment as a newbie

some people is not trying to learn bitcoin very well because I know quite well that if you brought out time to learn Bitcoin within interval of 2 months you will be able to understand the procedures of Bitcoin many people who lost for bitcoin investment is the people what does not exercise a patient and is also people who carry a negative information of Bitcoin when the loss in Bitcoin investment, it is obvious and understanding now for you to learn bitcoin and master it very well you must make a research and the even the community alone can give you another opportunity for you to learn bitcoin if you are observant

Not only with bitcoin but in any type of investment as well.
In any form of investment, you will need to understand what's going on about it.
If you will jump without prior research or at least brief study about it, you will likely lose your funds without a battle.
So crypto or not, better make sure you are doing your due diligence as it is your money on the line.

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Quote from: Plan well on May 08, 2024, 06:41:11 PM

As on my own opinion alot of newbies have fallen in to hand of scammers because of their insufficient knowledge about Bitcoin so therefore it take a high risk to make an investment when you yet to understand the Bitcoin investment to avoid been scammed of your hard earnings
Take your time learn and implement before you inter market or make any investment as a newbie

some people is not trying to learn bitcoin very well because I know quite well that if you brought out time to learn Bitcoin within interval of 2 months you will be able to understand the procedures of Bitcoin many people who lost for bitcoin investment is the people what does not exercise a patient and is also people who carry a negative information of Bitcoin when the loss in Bitcoin investment, it is obvious and understanding now for you to learn bitcoin and master it very well you must make a research and the even the community alone can give you another opportunity for you to learn bitcoin if you are observant

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Quote from: Plan well on May 08, 2024, 06:41:11 PM

As on my own opinion alot of newbies have fallen in to hand of scammers because of their insufficient knowledge about Bitcoin so therefore it take a high risk to make an investment when you yet to understand the Bitcoin investment to avoid been scammed of your hard earnings
Take your time learn and implement before you inter market or make any investment as a newbie

Your subject-topic almost sounded like a question, until I read the whole thread.
Op, I normally do advice that people learn about Bitcoin before investing; There could be no harm in investing without having a pre-knowledge, but you'd only have yourself to blame should anything happen as a result of your ignorance.
Does it cost you alot to learn about something you wanna invest in? No! Are you just being too lazy or more interested in the outcome, without giving a Fk to how that happens? Yes!

Quote from: lovesmayfamilis on May 08, 2024, 10:50:25 PM

To be an investor in Bitcoin, you do not need to know higher mathematics. Learn to use a wallet. The Electrum wallet is very convenient for beginners.

Electrum was a great deal when I started using wallets

TW was all I knew and, that's way simpler!

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Quote from: |MINER| on May 15, 2024, 01:11:22 PM

I will not going to suggest any newbie to invest in crypto before learning because cryptocurrency trading is high risky, you can loss you all fund if you invest with out proper knowledge.

While I am going to suggest them to invest in Bitcoin only if they want to start. But it doesn't mean that they need not to invest to learning first. Every investor should be wise and that's what I am going to tell them to do. They need to DYOR.

Even it is with Bitcoin, they need to understand how it goes and how the market works for everyone. If they proceed to trading without that much understanding and idea of how the market works, they're just burning their money easily.

Quote from: |MINER| on May 15, 2024, 01:11:22 PM

Because even then if you want to invest on bitcoin long-term you have know at least the basic about it .

I agree and I hope they understand it very well.

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Quote from: |MINER| on May 15, 2024, 01:11:22 PM

Quote from: Plan well on May 08, 2024, 06:41:11 PM

As on my own opinion alot of newbies have fallen in to hand of scammers because of their insufficient knowledge about Bitcoin so therefore it take a high risk to make an investment when you yet to understand the Bitcoin investment to avoid been scammed of your hard earnings
Take your time learn and implement before you inter market or make any investment as a newbie

will not going to suggest any newbie to invest in crypto before learning because cryptocurrency trading is high risky, you can loss you all fund if you invest with out proper knowledge. Because even then if you want to invest on bitcoin long-term you have know at least the basic about it .

I agree with you, all you said is correct. We are not supposed to be in a haste to invest, especially when dealing with Cryptocurrencies. It is best to have a good knowledge on what one is investing into, if it is Bitcoin or any Altcoin, which these Altcoins are very risky even to those who understand the market already then compared to a newbie who has no knowledge. If a newbie really wants to earn from cryptocurrency then he should first achieve some basic knowledge.

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Quote from: Plan well on May 08, 2024, 06:41:11 PM

As on my own opinion alot of newbies have fallen in to hand of scammers because of their insufficient knowledge about Bitcoin so therefore it take a high risk to make an investment when you yet to understand the Bitcoin investment to avoid been scammed of your hard earnings
Take your time learn and implement before you inter market or make any investment as a newbie

I will not going to suggest any newbie to invest in crypto before learning because cryptocurrency trading is high risky, you can loss you all fund if you invest with out proper knowledge. Because even then if you want to invest on bitcoin long-term you have know at least the basic about it .

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It is not really good for a newbie to make investments before learning how to, because that is a very big risk,and if you aren't careful,all your money will be wiped out from your account.There are some important things about investing which are all vital to learn before proceeding to make investments, except you don't want to care whether you will lose or not,that you will go ahead in making the so called investments you wish.But the best thing is to know about trading,and how to invest so you wont the just g gift them free money.

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Quote from: moneystery on May 10, 2024, 04:09:33 AM

-snip- so the question that should be asked is not whether a newbie can invest in bitcoin or not, but whether they understand bitcoin investment or not because those are two different questions.

Or better said, if a newbie who doesn't understand bitcoin investment SHOULD invest in Bitcoin or not. Maybe not the best way to articulate the question, but it can understood what he meant.

On the other hand, as said before, he makes the question but also answers it. Although I imagine that he is willing to hear different opinions and that's why he wrote his post.

IMO, a newbie who doesn't understand bitcoin investment but who is interested or simply curious should buy a few sats and try to move them between wallets, experiment with fees, even coin control. You don't need more than a few bucks in exchange and it can give you a practical experience you won't get by simply reading theory (and it is also much more fun). Take for granted that you "spent" the few bucks and if you eventually lose them it won't matter. Once you get the required knowledge and experience you'll be able to buy more, if you are still interested.

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Quote from: Plan well on May 08, 2024, 06:41:11 PM

As on my own opinion alot of newbies have fallen in to hand of scammers because of their insufficient knowledge about Bitcoin so therefore it take a high risk to make an investment when you yet to understand the Bitcoin investment to avoid been scammed of your hard earnings .

Indeed alot of newbies fallen in the hand of scammers because of lack of knowledge, some of Newbies are always think that they wise that's why the scammers find them very easy to hack their properties. The Bitcoin investment deserves a enough knowledge due the some of the risks that are involved, but some people's don't want to know about it and that's why many newbies get scammed, the Bitcoin investment has a huge profits which if a person take his time and study about the Bitcoin investment well in future it might turn to a huge profits.

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Take your time learn and implement before you inter market or make any investment as a newbie

Yes this is a good advice to everyone not only the newbies any body who to become a successful person in this life most actually engage his with much reaserch about the Bitcoin investment so that he can cover every part of Bitcoin.

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Quote from: Sonia_123 on May 11, 2024, 04:33:36 PM

How can you invest when you don't know what to do, for a pure newbie of bitcoin,i do not think it is possible,it shows you don't value your fund ,i bet you, you will no longer have the time to read enough the way it's suppose to be when you have not invested , remember investing in bitcoin or any other cryptocurrency is not like buying and selling other goods in the market , you need to understand the bases, terminologies and how it works before investing, therefore it is adviced to know what you are putting your money into. Investing in Bitcoin, you need to know the type of wallet to use ,the term of investment that is short-term or long-term, investing pattern using DCA or otherwise.

It is indeed advised to study and learn the venture one is interested in investing into but it is also possible to invest without learning the market flow. Since investing is just putting money into an investment venture and that can be done even without learning anything. It is that investing blindly without knowing the market often leads to losses.

Quote from: Z390 on May 11, 2024, 04:52:32 AM

Some did end up losing a lot of money because they dont chose Bitcoin, they went for altcoins, if a newbie buys Bitcoin without knowing more they are safe if they choose the right place to buy and also the right wallet to store the Bitcoin.

Investing in Bitcoin is not 100% profit, remember one need to sell at a higher price in order to get profit but there are cases where Bitcoin investors are forced to sell their stash for lower price due to being lack of knowledge about the market, weak hands or urgent matter.

Profiting in Bitcoin investment is a matter of how the investors sell their stash in a higher price. It isn't a magic where a Bitcoin investor will automatically get a profit once he invested in it.

Quote from: Z390 on May 11, 2024, 04:52:32 AM

The dangers of buying altcoins without knowing anything are so higher than buying Bitcoin without knowing anything about Bitcoin, like I told my nephew hours ago, you can't lose with Bitcoin until you decide to sell for a lower price than you bought it.

That is what I am saying, not all people who invested in Bitcoin are able to sell their stash at a higher price so it is not about choosing between Bitcoin or altcoin but it is about how they timed their buying and selling of their stash. Though I agree that choosing Bitcoin give an investor a lesser risk than buying altcoin.

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Quote from: Bravut on May 09, 2024, 08:47:17 PM

Quote from: Cosette on May 08, 2024, 10:56:01 PM

If you buy a book or a course that make you learn about something that you want to invest, then its considered as investment before learning.

Seems you are confuse Mate. You did say buy a course or book that will educate you on your proposed investment option is it not after reading or studying the course you then understand how to go about investing in that option. How is then investment before learning?,lol. Understand a post before commenting, we are not talking about buying a book or course as investment in this scenario but in terms of monetary value.

I believe everyone makes points but most of them are regarded to be out of line. Its funny how people rush to make comments with actual understanding of the whole article. Everyone have their view about posts reference. @Cosette was simply putting out his points and ideas, I see nothing wrong with what he have pin down but he also failed to understand the question been asked by OP. Perhaps he went too far but it's also recommendable to share ideas and explore our means of communication.

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How can you invest when you don't know what to do, for a pure newbie of bitcoin,i do not think it is possible,it shows you don't value your fund ,i bet you, you will no longer have the time to read enough the way it's suppose to be when you have not invested , remember investing in bitcoin or any other cryptocurrency is not like buying and selling other goods in the market , you need to understand the bases, terminologies and how it works before investing, therefore it is adviced to know what you are putting your money into. Investing in Bitcoin, you need to know the type of wallet to use ,the term of investment that is short-term or long-term, investing pattern using DCA or otherwise.

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Quote from: Plan well on May 08, 2024, 06:41:11 PM

As on my own opinion alot of newbies have fallen in to hand of scammers because of their insufficient knowledge about Bitcoin so therefore it take a high risk to make an investment when you yet to understand the Bitcoin investment to avoid been scammed of your hard earnings
Take your time learn and implement before you inter market or make any investment as a newbie

Many newbies invested before learning and they did it right, it doesn't take a thing to go on Google and check Bitcoin out, and this day Binance exchange is available including many top exchanges, unlike in the past where you could get caught in a fake crypto exchange.

Some did end up losing a lot of money because they dont chose Bitcoin, they went for altcoins, if a newbie buys Bitcoin without knowing more they are safe if they choose the right place to buy and also the right wallet to store the Bitcoin.

The dangers of buying altcoins without knowing anything are so higher than buying Bitcoin without knowing anything about Bitcoin, like I told my nephew hours ago, you can't lose with Bitcoin until you decide to sell for a lower price than you bought it.

Franctoshi

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I always encourage learning before making your investment, This way you won't fall victim of making to many investment mistakes people do because they don't properly understand what they are investment on, Let's for instance someone that doesn't know how Bitcoin works, the investor wouldn't know what to do at any time, Such as ways we go about Buying BTC, like using DCA strategy, Buying the dips and all sorts of that helps us to try to position ourselves properly in the volatile market. Lastly someone that doesn't property understand Bitcoin properly would likely Fomo buy and sell on sell pressures regardless the fact people can buy Bitcoin and forget it, but someone with good knowledge of Bitcoin and investment would undoubtedly outperform someone with zero knowledge, because this investor will know good entry and exiting points.

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Quote from: Plan well on May 08, 2024, 06:41:11 PM

As on my own opinion alot of newbies have fallen in to hand of scammers because of their insufficient knowledge about Bitcoin so therefore it take a high risk to make an investment when you yet to understand the Bitcoin investment to avoid been scammed of your hard earnings
Take your time learn and implement before you inter market or make any investment as a newbie

internet has made it all to everyone to understand that we have scammers so whoever that is a victim of scammer is not a wise any longer because even in this community we have also be conscious of scammers and with the kind of information we pass to each one another I don't think that some of us will be a scam again so if we get scam that means it is out of our selfish interest

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Quote from: Plan well on May 08, 2024, 06:41:11 PM

As on my own opinion alot of newbies have fallen in to hand of scammers because of their insufficient knowledge about Bitcoin so therefore it take a high risk to make an investment when you yet to understand the Bitcoin investment to avoid been scammed of your hard earnings
Take your time learn and implement before you inter market or make any investment as a newbie

There are alot of things to learn about bitcoin, but not so much to know before investing. Your ability to learn how to send and receive bitcoin. Your ability to write your seed phrase down and secure it, your ability to avoid clicking random links are the little knowledge needed to start investing in bitcoin. When you now get involved, you can be learning along because learning is a continuous process. If you sit back and wait unendingly to when you will learn everything before investing is bad. Just done enter the market with what you cannot afford to lose. This is key. Just start little but when you get enough knowledge you can increase your earnings.

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You can but the rate of chance of getting scammed is high. And you will lose all your hard-earned money in just a blink of an eye, something that happens to all of those who rush to invest without doing proper research and studies first. That is why as much as possible, take your time in studying your investment first and all its risks involved. You will soon to invest, but at least by that time, you are already sure to yourself that you won’t get scammed throughout the process.

nurilham

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Quote from: Plan well on May 08, 2024, 06:41:11 PM

As on my own opinion alot of newbies have fallen in to hand of scammers because of their insufficient knowledge -snip-

You have answered your question yourself. It is true that there is a too high risk if a newbie is trying to invest without learning first. He can be deceived by scammers to join scam projects, or he may choose the wrong time to buy coins. The only way to know how to invest in a proper way is learning from varied sources. But make sure newbies learn from trusted sources.

Quote from: moneystery on May 10, 2024, 04:09:33 AM

can a newbie make investment before learning? yes, they can, they can invest in bitcoin even if they don't know anything about it, just search on google there are many articles on how to buy bitcoin.

Newbie can buy Bitcoin, but they don't know how to invest in Bitcoin properly if they don't have knowledge.
Investing in Bitcoin isn't only about buying (entry) and holding, it is also about selling (exit) or taking profits. If newbies don't have knowledge about Bitcoin investment, they probably buy the Bitcoin at any time and they don't set a target for selling price yet. This is risky, how if the newbies buy the Bitcoin when it is in the peak price for this season? The newbies probably will sell for losses in the next months or years when there is a huge dump. Knowledge is important to have strong mentality and to have smart ways in managing the investment.

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Quote from: Plan well on May 08, 2024, 06:41:11 PM

As on my own opinion alot of newbies have fallen in to hand of scammers because of their insufficient knowledge about Bitcoin so therefore it take a high risk to make an investment when you yet to understand the Bitcoin investment to avoid been scammed of your hard earnings
Take your time learn and implement before you inter market or make any investment as a newbie

The only investment you will make in cryptocurrency and would be a good idea to learn about it later is buying Bitcoin and even that alone doesn't mean you are completely not vulnerable to volatility, you can see your Bitcoin appreciate and you can see it depreciate depending on how market react to any available news for that time but please I will advice you to learn how to save your Bitcoin and private keys, if you don't you risk losing everything tiny Bitcoin that you have.

You should also learn to avoid anything scam, send 1 Bitcoin to get two, anything that is greed related to Bitcoin and anything that will make you lose your Bitcoin, just avoid it else you will learn the hard way.

PS: I will strongly advise you to read and learn before buying, you will thank me later.

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Quote from: Mate2237 on May 10, 2024, 08:54:53 AM

Yes it i possible foe a newbie in cryptocurrency to invest before learning, and see how it works. As a newcomer to the ecosystem you don't have any knowledge about the system and because of the way people were telling you to invest, you can meet a friend to invest for you and tell him to teach again how to go about the investment. Then from there you started learning and monitor your coins to learn more. Learn how to purchase more to the portfolio and also learn how to sell.

And I think it is one of the best method to invest in Bitcoin. But don't invest with someone you don't know and you don't trust. If not normally it is good for you to know it well before investing and that when you know the person and trust the person as well.

That's the reason why other gamblers learned a lot of things after they invest into cryptocurrency.cause we are all know that without knowledge then Investors will greedy in the capital money then they will sell even though that price is too high. Which means don't have enough strategy cause they are newbie in investment. Anyways we must learn first before emer invest but we can't plesse to those useless who actually spontaneous in Thier decisions. So to prevent losses its better to be wise and knowledgeable.

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Yes it i possible foe a newbie in cryptocurrency to invest before learning, and see how it works. As a newcomer to the ecosystem you don't have any knowledge about the system and because of the way people were telling you to invest, you can meet a friend to invest for you and tell him to teach again how to go about the investment. Then from there you started learning and monitor your coins to learn more. Learn how to purchase more to the portfolio and also learn how to sell.

And I think it is one of the best method to invest in Bitcoin. But don't invest with someone you don't know and you don't trust. If not normally it is good for you to know it well before investing and that when you know the person and trust the person as well.

moneystery

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can a newbie make investment before learning? yes, they can, they can invest in bitcoin even if they don't know anything about it, just search on google there are many articles on how to buy bitcoin. because it's the same as buying a car, everyone can buy a car with their money, but can they drive it? it depends, whether they are good at driving or they don't know at all. so the question that should be asked is not whether a newbie can invest in bitcoin or not, but whether they understand bitcoin investment or not because those are two different questions.

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Quote from: Plan well on May 08, 2024, 06:41:11 PM

As on my own opinion alot of newbies have fallen in to hand of scammers because of their insufficient knowledge about Bitcoin so therefore it take a high risk to make an investment when you yet to understand the Bitcoin investment to avoid been scammed of your hard earnings
Take your time learn and implement before you inter market or make any investment as a newbie

Simply put, how can anyone want to invest their money without knowing or without knowledge regarding the assets they want to invest in? although we also see that many beginners come to invest in Bitcoin because of the FOMO they get from friends or from social media.
but I believe before they finally decide to be interested and invest in Bitcoin. at least they will ask friends who have already started. and they can also search for information on the Internet. I think it's very easy to access nowadays.
no one is easy to cheat in investments nowadays. although currently, fraudsters with many methods have developed.

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Quote from: Plan well on May 08, 2024, 06:41:11 PM

As on my own opinion alot of newbies have fallen in to hand of scammers because of their insufficient knowledge about Bitcoin so therefore it take a high risk to make an investment when you yet to understand the Bitcoin investment to avoid been scammed of your hard earnings
Take your time learn and implement before you inter market or make any investment as a newbie

If you don't learn before adventuring into any businesses, you'll be vulnerable to scammers that are in that area of business. Many newbies still have a wrong perspective of Bitcoin because of the type of things they hear on social media. They think Bitcoin is a get rich quick scheme and invest with the hopes of getting quick return on their investment, this wrong perspective make them to invest in coin doublers and other ponzi scheme that eventually scam them and then they put the blame on Bitcoin without knowing what they have been investing into isn't Bitcoin but a business that using Bitcoin for their ponzi scheme.

Newbie have to be guided on the type of investments they're getting into before they invest. Irrespective of what the business is all about, always have an Idea of what you're investing into before fully committing yourself to that investment. It's only when you can buy Bitcoin first and still be learning more about the currency while you hodl is when you can do exactly that but you shouldn't buy when you don't have any Idea of what you're investing into. Don't fall to peer pressure or following the crowd in order not to be left out but do things based on how you understand them.

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Quote from: Cosette on May 08, 2024, 10:56:01 PM

If you buy a book or a course that make you learn about something that you want to invest, then its considered as investment before learning.

Seems you are confuse Mate. You did say buy a course or book that will educate you on your proposed investment option is it not after reading or studying the course you then understand how to go about investing in that option. How is then investment before learning?,lol. Understand a post before commenting, we are not talking about buying a book or course as investment in this scenario but in terms of monetary value.

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Quote from: Abu-Naim on May 09, 2024, 02:11:47 PM

Yea, it is a very good thing to do. Learning is the first step to any success and without good knowledge, there will be obstacles along the line which can lead astray.
In crypto and Bitcoin investment, learning is very important because of how volatile Bitcoin market is.
You need knowledge to be able to understand the basic concepts behind Bitcoin, keys and address and lots more; without these knowledges, you will never know the exact way to start and you will easily get scammed due to ignorance, that is why it is very important to learn before you start your investment.

Seriously the question is someway unnecessary to me, because how can you possibly even invest in something that you don’t have knowledge, how do you plan to buy that thing or product, how do you keep it, what the risks involved in this, even a Ponzi scheme scammer will tell things like this before they scam you, so OP since your question is can one make investment before learning, the answer is NO.

The knowledge People say you should seek isn’t necessarily those high or advanced knowledge like how is address created, or how is keys generated. But rather what do they signify, which wallets are best for storage. This are basic knowledge that are necessities which must be known.

Mr.right85

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If your investment goes beyond buying Bitcoin and saving it up in a none custodian wallet, than it’s not worth trying. Many newbies into cryptocurrency and i don’t mean the forum, often find themselves on scam sites, seeking for investment packages on how they could invest their money and be paid royalties periodically for their investments but these often turns out to be trading scams. You could find a lot of that offered on social media and telegram group chats.

What is more obtainable is that, you buy Bitcoin from known exchanges or whatever means available to you, hold it on none custodian wallet while you study. That too is okay.

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Quote from: Plan well on May 08, 2024, 06:41:11 PM

As on my own opinion alot of newbies have fallen in to hand of scammers because of their insufficient knowledge about Bitcoin so therefore it take a high risk to make an investment when you yet to understand the Bitcoin investment to avoid been scammed of your hard earnings
Take your time learn and implement before you inter market or make any investment as a newbie

The answer: yes, they can.
BUT....
Investing without understanding and studying first is a blind investment. And this will actually be very detrimental to them. At least, we have to have the abstract first before we enter the investment. There's no way to understand what Bitcoin is, its benefits, how to deal with the risks, and the best way to make an exchange and use it. This may not be very significant, but there will be a difference when a newbie invests without any prior knowledge and is equipped with knowledge and insight into Bitcoin with all its risks and twists and turns, which leads to the hope of making a profit.

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Quote from: Pmalek on May 09, 2024, 11:14:08 AM

First of all, you should know what you are investing in before putting your money into it. If you don't know anything about Bitcoin, its history, or even the volatility, you will probably be heading towards many surprises in the future. Sure, you can just speculate, and many people do it. But at that time it's more of a gamble. Serious people with serious investments carry out research before they let go of their money.

Being knowledgeable when it comes to bitcoin creates a higher advantage than those who rush to invest without knowing their investments well. That could be a sign of stupidity, as well as greediness. That’s how majority of newbies who are only here for quick profits loses easily on their investments, even if they have sufficient amount of money ready to invest.

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Quote from: Plan well on May 08, 2024, 06:41:11 PM

As on my own opinion alot of newbies have fallen in to hand of scammers because of their insufficient knowledge about Bitcoin so therefore it take a high risk to make an investment when you yet to understand the Bitcoin investment to avoid been scammed of your hard earnings
Take your time learn and implement before you inter market or make any investment as a newbie

This is just another topic that even an elementary grader will be able to answer correctly. Now, if you are a responsible investor, you will stick to what is right and basic. Know your investment first before you start risking your money. Do not take shortcuts wherein you tend to invest first and learn your first lesson as well, that will only put your losses at a high rate. Instead, follow the path of those early investors who are successful today. Take the time to study your investment first, until you gain your own confidence investing in it.

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Quote from: Plan well on May 08, 2024, 06:41:11 PM

As on my own opinion alot of newbies have fallen in to hand of scammers because of their insufficient knowledge about Bitcoin so therefore it take a high risk to make an investment when you yet to understand the Bitcoin investment to avoid been scammed of your hard earnings
Take your time learn and implement before you inter market or make any investment as a newbie

Treat bitcoin like any other investment that you’ll have an experience about before putting your money into it. Without prior knowledge about bitcoin, it’s not advisable to invest in bitcoin because you stand at a very high risk of losing all of your assets. Without knowledge, you’re prone to scammers and also you can expose yourself to phishing attacks which are one of the easiest way they can get through your savings and cater away with all that you’ve invested. Some have argued in the past to buy bitcoin when you know about it in order not to lose at buying early like other investors. But the truth of the matter is that, if you do so, you will end up buying early and end up losing everything to scammers because you don’t know how to secure and protect your account.

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Quote from: Plan well on May 08, 2024, 06:41:11 PM

As on my own opinion alot of newbies have fallen in to hand of scammers because of their insufficient knowledge about Bitcoin so therefore it take a high risk to make an investment when you yet to understand the Bitcoin investment to avoid been scammed of your hard earnings
Take your time learn and implement before you inter market or make any investment as a newbie

It's obvious if you don't even know how an investment is done or how you can make investments in something, you can't do it right. Newbies who get scammed tend to invest their money in websites that use Bitcoin's name and ask people for investments and promise them high returns. Now if someone understands that investing in Bitcoin means buying Bitcoin from an exchange, they wouldn't be making such mistakes, right?

This is the reason why one needs to understand everything before they get involved in something, especially if they know there are finances involved because you can't risk your money on something that you don't even understand even if you have heard that it provides profits. So even if one is doing everything right, they still need to understand everything.

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Quote from: Russlenat on May 09, 2024, 05:30:21 AM

Quote from: boyptc on May 08, 2024, 06:55:44 PM

Quote from: Plan well on May 08, 2024, 06:41:11 PM

Take your time learn and implement before you inter market or make any investment as a newbie

Don't take any shortcuts.

Give importance to your hard earned money without having some time in learning what you are about to invest. It won't hurt you a lot and won't cost you that much if you're going to learn first where you'll invest your money.

Don't be the same with those people that are relying to the flock of the crowd where they're putting their money without thinking and knowing what they are investing with their money.

Take one step at a time and don't rush so that you won't get fooled by anybody and you'll understand what you are investing.

Don’t be greedy as well, that will only force you to take shortcuts believing that you could end up with quick and huge profits. Instead, follow the process. Make an in-depth research and study. Know your investment well, before you take such risk to invest your hard-earned money. That could be the best way possible in order to avoid too much losses and increase your chances to stay in profits.

Yeah, that the process naturally and enjoy it.

Because a newbie that's making an investment shouldn't hurry for them to understand how the market's concept works.

It's about the process that they need to analyze and understand and then, that investment approach will be learned and everything seems going to be easy mentally and emotionally.

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Quote from: Plan well on May 08, 2024, 06:41:11 PM

As on my own opinion alot of newbies have fallen in to hand of scammers because of their insufficient knowledge about Bitcoin so therefore it take a high risk to make an investment when you yet to understand the Bitcoin investment to avoid been scammed of your hard earnings
Take your time learn and implement before you inter market or make any investment as a newbie

If you talking about investment in bitcoin, then you may be right on that advice of investing before learning and the possibility of success along the line is there, since bitcoin is less volitile compared to other coins in the market, also bitcoin can be hold for long term without the risky of losing all the investment because of market crash.
But when you dive into the world of altcoins, it then means that you have chosen a more volitile approach that way you need alot of knowledge experience and expertise to make profits from them, so you can't chose altcoin before you leave about it and also because of the high risk with altcoin, you can confidently hold it for long term based.

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Quote from: Rockstarguy on May 09, 2024, 02:07:08 PM

Quote from: Plan well on May 08, 2024, 06:41:11 PM

Take your time learn and implement before you inter market or make any investment as a newbie

Their is nothing to learn much, all you just need to know before investing bitcoin is to use the right wallet and to know how to secure your wallet, you also need to understand how scammers work because beginners are always target of scammers. Then you also need to understand that investing in Bitcoin does not make one to become rich quick and you should understand that the market is very volatile and you Need to invest only the amount you can afford to lose which you don't need to depend on it to give you profit very fast. If you can understand all this I don't think you will have problems in investing in Bitcoin.

Well I disagree with you, knowing the right wallet and how to secure your wallet is not enough for a beginner who wants to invest in Bitcoin, is it possible for someone who does not have any knowledge of Bitcoin to know when to buy Bitcoin to HODL? I believe there's so many things a newbie should know aside the things you talked about because for someone that knows how create wallet the person may still find it difficult to buy Bitcoin or transfer Bitcoin from his wallet to make p2p transactions. The newbie will not even understand what the market is all about if not properly guided that's why it is advisable they get knowledge first before rushing to invest.

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Quote from: Plan well on May 08, 2024, 06:41:11 PM

As on my own opinion alot of newbies have fallen in to hand of scammers because of their insufficient knowledge about Bitcoin so therefore it take a high risk to make an investment when you yet to understand the Bitcoin investment to avoid been scammed of your hard earnings
Take your time learn and implement before you inter market or make any investment as a newbie

Yea, it is a very good thing to do. Learning is the first step to any success and without good knowledge, there will be obstacles along the line which can lead astray.
In crypto and Bitcoin investment, learning is very important because of how volatile Bitcoin market is.
You need knowledge to be able to understand the basic concepts behind Bitcoin, keys and address and lots more; without these knowledges, you will never know the exact way to start and you will easily get scammed due to ignorance, that is why it is very important to learn before you start your investment.

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Quote from: Plan well on May 08, 2024, 06:41:11 PM

Take your time learn and implement before you inter market or make any investment as a newbie

Their is nothing to learn much, all you just need to know before investing bitcoin is to use the right wallet and to know how to secure your wallet, you also need to understand how scammers work because beginners are always target of scammers. Then you also need to understand that investing in Bitcoin does not make one to become rich quick and you should understand that the market is very volatile and you Need to invest only the amount you can afford to lose which you don't need to depend on it to give you profit very fast. If you can understand all this I don't think you will have problems in investing in Bitcoin.

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A newbie with zero knowledge will not have a good investment in Bitcoin because Bitcoin investment is not like every other investment where you can just buy and resell your products to make profit you will need to learn when you are to buy and the right time for you to take profits and if you have no knowledge you may find it difficult to create and secure your bitcoin in your wallet, you may find it difficult to secure your seed phrase and lack of knowledge may even lead to loss of funds because a total newbie may be exposed to strangers and scammers who may apper as helpers but at the end they will leave the person empty.

It is risky to invest without adequate knowledge so instead of rushing to be seen as someone who has invested in Bitcoin,you can save your self the money and pay attention to getting a good knowledge on what you need to invest in before ok putting your money. If you know you can keep making research after investing in Bitcoin, that's going to be helpful to if you must invest without knowledge but be ready to accept whatever outcome you get but I will rather go for knowledge first before investment.

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Whether newbie or not, no one should invest in any project they have no knowledge about. Bitcoin sure seems like an interesting investment, especially when we see those that are already successful in it. Bitcoin investment is a high risk investment which no one should enter into it without having prior knowledge of what they are putting themselves and their resources into. Majority of the people who are criticising Bitcoin and claiming Bitcoin caused them great loss instead of gain invested in Bitcoin without really learning about what Bitcoin is really about. They joined the Bitcoin family with very high expectations while failing to pay attention to the other parts of Bitcoin investment that makes it risky.

People should normalize gathering sufficient knowledge about whatever investment they intend to go into, this will go a long way in reducing their risks.

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Quote from: Plan well on May 08, 2024, 06:41:11 PM

As on my own opinion alot of newbies have fallen in to hand of scammers because of their insufficient knowledge about Bitcoin so therefore it take a high risk to make an investment when you yet to understand the Bitcoin investment to avoid been scammed of your hard earnings
Take your time learn and implement before you inter market or make any investment as a newbie

Sounds like you answered this already OP Wink

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Quote from: Plan well on May 08, 2024, 06:41:11 PM

As on my own opinion alot of newbies have fallen in to hand of scammers because of their insufficient knowledge about Bitcoin so therefore it take a high risk to make an investment when you yet to understand the Bitcoin investment to avoid been scammed of your hard earnings
Take your time learn and implement before you inter market or make any investment as a newbie

What are you investing when you have no idea on what to do, you're just going to make waste of your time, efforts and money on such investment because you're likely not to make it the right and expected way, we often advice that everyone interested to make investment in crypto as a newbie should first seek for the knowledge at all cost because that will be the first guide against any form of losses they may encounter and in other for them to be able to withstand them.

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Quote from: Plan well on May 08, 2024, 06:41:11 PM

As on my own opinion alot of newbies have fallen in to hand of scammers

But in my opinion, they fell into the hands of scammers because of their excessive gullibility and lack of foresight.

Quote from: Plan well on May 08, 2024, 06:41:11 PM

because of their insufficient knowledge about Bitcoin

What stopped them from figuring out the basics of buying and storing bitcoin? Google / this forum not working for them?

Quote from: Plan well on May 08, 2024, 06:41:11 PM

so therefore it take a high risk to make an investment when you yet to understand the Bitcoin investment

There is nothing complicated about investing in bitcoin that you need to understand: buy low - sell high, remember bear and bull markets, 4-year halving cycles, and otherwise bitcoin shows constant growth in the long term (if briefly describe).

Beginners may have difficulties at first with securely creating a wallet, completing transactions taking into account the favorable fee and the necessary time to process the transaction. That is, those nuances, knowledge about which is gained very quickly with experience, you just have to try and start.

Quote from: Plan well on May 08, 2024, 06:41:11 PM

to avoid been scammed of your hard earnings

To avoid this, remember a simple rule: don't tell / show anyone the seed phrase of your wallets and do not send cryptocurrencies.

Quote from: Plan well on May 08, 2024, 06:41:11 PM

Take your time learn and implement before you inter market or make any investment as a newbie

In any action, before you start anything, you should understand and figure out how to do it. It’s the same with investments in crypto. Once you have studied the guides on what and how to do (creating a wallet, buying crypt, making a transaction) then you entered the crypto market. It’s just the first step that seems difficult.

Pmalek

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First of all, you should know what you are investing in before putting your money into it. If you don't know anything about Bitcoin, its history, or even the volatility, you will probably be heading towards many surprises in the future. Sure, you can just speculate, and many people do it. But at that time it's more of a gamble. Serious people with serious investments carry out research before they let go of their money.

Skfox

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Quote from: Plan well on May 08, 2024, 06:41:11 PM

As on my own opinion alot of newbies have fallen in to hand of scammers because of their insufficient knowledge about Bitcoin so therefore it take a high risk to make an investment when you yet to understand the Bitcoin investment to avoid been scammed of your hard earnings
Take your time learn and implement before you inter market or make any investment as a newbie

From what I have read this few days I located the forum I don't think it is proper to initiate any investment without following the due process which is having a proper knowledge for what ever you want to invest in, bitcoin investment and any other investment requires adequate knowledge before choosing to think of investment otherwise the investor will have him self or her self to be blamed because there's no way the person won't lose everything either in the hands of scammers or getting involved in wrong investment.

Op you just answered the question correctly by knowing that it is good to get good knowledge before thinking about purchasing bitcoins so yes for newbies like us, we should learn to get knowledge first before thinking of investing in anything not just bitcoin alone.

Kristiyana

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Making investment before learning? Is totally wrong is only someone who don't know the value of money that will take such risk, well most people will not consider it been risk. is always advisable to learn before making any move you don't have to invest on something you don't even have any idea about, actually I think it happens most time a newbie can decide to invest maybe after experiencing lose that's when he will seek for help from high ranked members.

Adams0001

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Quote from: Yaunfitda on May 09, 2024, 04:29:41 AM

Quote from: Plan well on May 08, 2024, 06:41:11 PM

As on my own opinion alot of newbies have fallen in to hand of scammers because of their insufficient knowledge about Bitcoin so therefore it take a high risk to make an investment when you yet to understand the Bitcoin investment to avoid been scammed of your hard earnings
Take your time learn and implement before you inter market or make any investment as a newbie

Hmm, from the title itself? like investing on Bitcoin, you can do that in the beginning with little amount and buy to let's say in a exchange. And then try to study and learn it later and see how it goes for you. I mean like buy worth of $50 as your entry level and watch the market and at the same time educating from it. And obviously, the best community is where you are right now. You can either ask questions or just go search as there are a large of knowledge base here in this forum. The problem though with some beginners is that they didn't do the research first, as their questions might have been answered a thousand times already.

but in my on opinion, It is preferable that you understand anything before risking your finances on any investment, because some investments, even if you invest, will not provide a profit if they lack value, and if you do not have a thorough understanding, you will not be able to determine which investments are worthwhile to do. Bitcoin is a good investment for individuals who know about it. If someone invests in it and doesn't know anything about it, I will say he is doing the right thing since I believe in bitcoin and will most likely be lucrative. However, it is better for him to grasp anything about it before he engages in it, so that any problems that come you will not surprise any challenges that comes you can handle that he won't surprise you because you knew is volatile the price is not stable. in investment if you don't have knowledge on the investment you want to start you can't succeed on it and you will lose enough funds that is why you should get better knowledge on something first not to invest before looking for the ides about it.

Russlenat

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Quote from: boyptc on May 08, 2024, 06:55:44 PM

Quote from: Plan well on May 08, 2024, 06:41:11 PM

Take your time learn and implement before you inter market or make any investment as a newbie

Don't take any shortcuts.

Give importance to your hard earned money without having some time in learning what you are about to invest. It won't hurt you a lot and won't cost you that much if you're going to learn first where you'll invest your money.

Don't be the same with those people that are relying to the flock of the crowd where they're putting their money without thinking and knowing what they are investing with their money.

Take one step at a time and don't rush so that you won't get fooled by anybody and you'll understand what you are investing.

Don’t be greedy as well, that will only force you to take shortcuts believing that you could end up with quick and huge profits. Instead, follow the process. Make an in-depth research and study. Know your investment well, before you take such risk to invest your hard-earned money. That could be the best way possible in order to avoid too much losses and increase your chances to stay in profits.

Kelward

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Quote from: Plan well on May 08, 2024, 06:41:11 PM

As on my own opinion alot of newbies have fallen in to hand of scammers because of their insufficient knowledge about Bitcoin so therefore it take a high risk to make an investment when you yet to understand the Bitcoin investment to avoid been scammed of your hard earnings
Take your time learn and implement before you inter market or make any investment as a newbie

You asked a question in the subject and you answered it in the content, I think that you should've either concentrated on a question topic or an advisory topic.

Anyways, going into any investments without first learning atleast the basics of the business will be a very big mistake, whether it's crypto or not, because you can make avoidable mistakes that will cost you so many loses. Many newbies come into the crypto space seeking to make quick money, and they're introduced to shitcoins by either hypes on social media or by ignorant friends, in the end they'll lose all their investment funds, then they'll say that the crypto space is a total scam. Even investment in Bitcoin that is the most reputable cryptocurrency, you still need to understand basic things like the volatile market and know how to protect your wallet seed phrase.

Uhwuchukwu53

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★Bitvest.io★ Play Plinko or Invest

Quote from: Plan well on May 08, 2024, 06:41:11 PM

As on my own opinion alot of newbies have fallen in to hand of scammers because of their insufficient knowledge about Bitcoin so therefore it take a high risk to make an investment when you yet to understand the Bitcoin investment to avoid been scammed of your hard earnings
Take your time learn and implement before you inter market or make any investment as a newbie

At first place investing on what you have no knowledge apart from BTC or crypto is very dangerous risk I may not only called it risk but foolishness. Making haste is not what give good results but attention to detail, even on skill acquisition you must first learn before establishment of your own, investing can be liken to such is like one going into establishing unknown skill and expect success.

Learning first before investment is a great way of making an outstanding results as result because allot is on any investment without knowing the rudiments you may remain static and incurred numerous losses in the system. Typical example is the scammer issue and market changes.

Yaunfitda

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Quote from: Plan well on May 08, 2024, 06:41:11 PM

As on my own opinion alot of newbies have fallen in to hand of scammers because of their insufficient knowledge about Bitcoin so therefore it take a high risk to make an investment when you yet to understand the Bitcoin investment to avoid been scammed of your hard earnings
Take your time learn and implement before you inter market or make any investment as a newbie

Hmm, from the title itself? like investing on Bitcoin, you can do that in the beginning with little amount and buy to let's say in a exchange. And then try to study and learn it later and see how it goes for you. I mean like buy worth of $50 as your entry level and watch the market and at the same time educating from it. And obviously, the best community is where you are right now. You can either ask questions or just go search as there are a large of knowledge base here in this forum. The problem though with some beginners is that they didn't do the research first, as their questions might have been answered a thousand times already.

Catenaccio

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Doing research, better due diligent research, before investing. Researching is more serious than learning.

You can do research for learning fundamentals which are enough for your investment. Where to buy bitcoins, where and how to store your bitcoins, needs to make a wallet backups. It is enough for your investment.

More, learn about market cycles, history, and find good strategy like Dollar Cost Averaging.

https://dcabtc.com/
How to backup a seed phrase?

avp2306

sr. member

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Quote from: Plan well on May 08, 2024, 06:41:11 PM

As on my own opinion alot of newbies have fallen in to hand of scammers because of their insufficient knowledge about Bitcoin so therefore it take a high risk to make an investment when you yet to understand the Bitcoin investment to avoid been scammed of your hard earnings
Take your time learn and implement before you inter market or make any investment as a newbie

Yes you can if you can afford to do it since actual learning from your experiences is more good to you since you can learn a lot of lessons from those investment activities you made. But make sure you do proper precaution on everything you do so that you will not learn from expensive mistakes but can able to earn from what you do. To achieve this status you should always do a research on each decisions you do since this could help you to verify if the investment you are looking for is really good and not those blatant scam.

But in your case for sure you already know about those scam and that is good since it seems you are good on research so be resourceful since this is important as investor to avoid committing mistakes.

armanda90

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Actually investing required with knowledge but when getting experienced teach us more than knowledge, I don't think problem for the beginner or newbie make investment in cryptocurrency before learning more and during make investment will get more experienced has higher intention from knowledge. But make investing with cryptocurrency assets have good fundamental such as bitcoin, Ethereum and BNB coin during investment of three potential coins above still not reach most higher price.

After investing the beginner will get more lesson and knowledge about cryptocurrency, I doubt too much learning and having knowledge make us doubt and scare for investing behind some potential coins have reach most higher price and loss opportunity with lower price to buy back before raising to more higher price.

Bd officer

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Quote from: Plan well on May 08, 2024, 06:41:11 PM

As on my own opinion alot of newbies have fallen in to hand of scammers because of their insufficient knowledge about Bitcoin so therefore it take a high risk to make an investment when you yet to understand the Bitcoin investment to avoid been scammed of your hard earnings
Take your time learn and implement before you inter market or make any investment as a newbie

Investing in Bitcoin is not very difficult, you don't need to acquire a lot of knowledge. Many have given good advice here, which you can follow. You can invest in Bitcoin with basic knowledge about Bitcoin. You can invest if you have knowledge of below mentioned basics.
* How to buy Bitcoin.
* Where to buy bitcoins from.
* How to transfer bitcoins from exchanges to secure wallets like Electrum.
* Gain knowledge about different wallets, but you can use Electrum wallet to hold bitcoins.

As a newbie don't invest big amount first, invest small amount first. But if you invest in Bitcoin, you must hold for a long time, you will not rush to make a profit. Everyone can invest but not everyone can hold for long.

arjunmujay

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Quote from: Plan well on May 08, 2024, 06:41:11 PM

As on my own opinion alot of newbies have fallen in to hand of scammers because of their insufficient knowledge about Bitcoin so therefore it take a high risk to make an investment when you yet to understand the Bitcoin investment to avoid been scammed of your hard earnings
Take your time learn and implement before you inter market or make any investment as a newbie

At the very least, you must choose an exchange that has been regulated by the local government. Apart from guaranteed security, you will not feel anxious if the exchange takes away the money you invested. and my advice is still to choose bitcoin, not altcoin even though you can get more profit in a short time.
as long as it lasts, you continue to learn about investing in the crypto world and learn a lot about it. What's more, you are already in this extraordinary forum. You can learn anything about crypto without having to pay money to study in a class.

Ruttoshi

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Baba God Noni

Investing in bitcoin is very easy and all you need to get started is the basic knowledge of bitcoin. Since you are a long-term hodler, you can get started and learn along side which is investing and learning. As a newbie investor, one of the basic knowledge is to invest with an amount that you can afford to lose and also let it be a long term goal.

The next thing is for you to use a create a self custody wallet and after that, you buy your bitcoin from an exchange and transfer it to your self custody wallet where you have already backed up your seed phrase. Investing in bitcoin and hodli is more of practical than theory because you need to have the experience as a hodler based on the price fluctuation.

The other knowledge on bitcoin can be learnt as you are hodling and investing. We should know that bitcoin is complex and whoever wants to have a major knowledge before investing will end up not investing early, and will not be able to buy bitcoin when the price is low. The only thing that investor needs to understand is how much of his income can he use to DCA regularly to increase his portfolio as he continue learning.

There are some aspect in bitcoin that experience is the best way to learn and investing is one of it.

Cosette

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DAMN SON!

If you buy a book or a course that make you learn about something that you want to invest, then its considered as investment before learning.

lovesmayfamilis

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✿♥‿♥✿

To be an investor in Bitcoin, you do not need to know higher mathematics. Learn to use a wallet. The Electrum wallet is very convenient for beginners. There are many tutorials on the forum. Learn to save your seed phrase. Use a clean system for transactions. Do not copy and paste when you are about to make a transaction, and carefully check the addresses of the wallets to which you are sending funds. The less often you check Bitcoin prices and make DCA more often, your investment will become meaningful in quantity. Are there any difficulties here? These are the first steps of practice that should go in parallel with theory. Next, of course, you need to ensure better security for your investments, but at the initial stage, it is very convenient to practice.

albon

legendary

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Investing requires dedicating enough time and effort to learn, gain experience, and become familiar with the basics and terminology circulating in this field; learn about wallet security, types of wallets, how to use them, and the various scams used by scammers to drain the wallets of their victims. I can liken it to driving a car; if the driver lacks experience and sufficient knowledge about driving and the car's components, he will inevitably collide and may face a traffic accident that could endanger his life.

Most of what falls into the hands of scammers are beginners who do not give themselves enough time to do research, follow market developments, acquire knowledge, and read articles, educational materials, forum topics, books, and other reliable sources of information. The category of inexperienced investors is easily targeted by villains, and they are among the reasons for the continuation and success of their malicious schemes. Also, investment contains risks so that these risks can be identified and managed, the appropriate capital can be determined, and a strategy can be developed.

Amphenomenon

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Hope Jeremiah 17vs7

FOMO is the main reason crypto newbies fail to learn firstly before investment while they might be lucky if they maybe lucky investing in bitcoin before learning this can't be said about altcoins which needs more research in order to avoid scam coins or coins with little or no value, though investing in bitcoin without proper knowledge about how to securely store your coin is the worst mistakes for bitcoin newbies.

Quote from: Cryptomultiplier on May 08, 2024, 06:51:48 PM

You clearly are a very newbie indeed for coming up with such a post that sounds rhetoric or should I say you just need the attention.
Why should someone without a proper investment knowledge, invest their hard earned money and hope to make profit, before they then learn about what they have invested in and hope to invest more, make more profit and become a professional all of a sudden?
It makes no absolute sense, infact how does the learner acquire the investment and keep it safe before they learn how to?

Actually this post is good there are alot of bitcoiners and others into crypto currency that didn't have knowledge before investment, I actually have a friend who is Dad was persuaded to invest in an altcoin that has little or no value, seems like it was a stable coin or something close to it and this was over 10 years ago, he was advised to HODL for about 5 years from which the price did dropped more.

Another proof while this is important is from the fact that before many of us joined this forum we were already into the crypto space but not knowledgeable about the right wallets and ways to store our coins. Thank God for BTT just imagine what ignorant might have caused us without this forum

Darker45

legendary

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Yes, a newbie can. As a matter of fact, there are so many newbies who prefer to invest first and learn later. I hope that's out of excitement or too much eagerness rather than laziness or carelessness. Either way, however, the risk with this approach is very high and you could end up exactly in the opposite situation of what you were hoping. Rather than profit, you'd have losses.

What's even more unfortunate is that there are some, or perhaps many, who have already made investments but didn't exert effort to do research or understand Bitcoin right after. They aren't newbies anymore in the sense that they've already made their investments many months or even years ago, but they remain lacking of the most basic Bitcoin knowledge.

Bravut

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It will be very naive of any person wether newbie or not to invest without prior knowledge about such investment. Leading comes before anything most especially in a financial market like Bitcoin. You will surely end up losing and keep losing because you know nothing. Remove the L from learning we have Earn, it just like you asking” Can one drive before learning how to drive”.

In every sense this isn’t worth a question to ask, everyone with a right sense of thoughts and judgement know and understand that the most important factor is knowledge it doesn’t need to be a newbie.

boyptc

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★Bitvest.io★ Play Plinko or Invest!

Quote from: Plan well on May 08, 2024, 06:41:11 PM

Take your time learn and implement before you inter market or make any investment as a newbie

Don't take any shortcuts.

Give importance to your hard earned money without having some time in learning what you are about to invest. It won't hurt you a lot and won't cost you that much if you're going to learn first where you'll invest your money.

Don't be the same with those people that are relying to the flock of the crowd where they're putting their money without thinking and knowing what they are investing with their money.

Take one step at a time and don't rush so that you won't get fooled by anybody and you'll understand what you are investing.

Cryptomultiplier

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Quote from: Plan well on May 08, 2024, 06:41:11 PM

As on my own opinion alot of newbies have fallen in to hand of scammers because of their insufficient knowledge about Bitcoin so therefore it take a high risk to make an investment when you yet to understand the Bitcoin investment to avoid been scammed of your hard earnings
Take your time learn and implement before you inter market or make any investment as a newbie

You clearly are a very newbie indeed for coming up with such a post that sounds rhetoric or should I say you just need the attention.
Why should someone without a proper investment knowledge, invest their hard earned money and hope to make profit, before they then learn about what they have invested in and hope to invest more, make more profit and become a professional all of a sudden?
It makes no absolute sense, infact how does the learner acquire the investment and keep it safe before they learn how to?

Its more like penny wise pound foolish and the best advice is to put your money where you know what can happen, in what you have a fairly sound knowledge of and can secure primarily and in what gives you the best advantage over your freedom and independence.

Abbatty

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From your thread it shows you are asking a question and you still went on to answer it, this is one mistake alot of newbies make and it clearly show you didn’t really read the forum rules and regulations before engaging it activities.

Back to your question, it never advisable to a new to begin investment without having proper knowledge about bitcoin. How can you even put you resources into something without making research about it. I will call that total carelessness. You to make research to know if it actually the appropriate time to invest.

Plan well

newbie

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As on my own opinion alot of newbies have fallen in to hand of scammers because of their insufficient knowledge about Bitcoin so therefore it take a high risk to make an investment when you yet to understand the Bitcoin investment to avoid been scammed of your hard earnings
Take your time learn and implement before you inter market or make any investment as a newbie

Topic: Can a newbie make investment before learning? (Read 626 times)